Cryptocurrencies

Ethereum (ETH) Final Testnet launched on August 4 for 3 months – Cryptocurrencies

There are still no details regarding Ethereum 2.0’s release date, but the latest news shows that it is getting closer every day. Indeed, the last Testnet scheduled before the start of the main network will be launched in less than two weeks. The news was indeed shared by Danny Ran -Coordinator of the Ethereum 2.0 project – via Discord on the Testnet discussion forum.


The testnet must operate for a minimum period of three months

“After discussions with client teams, the next multiclient testnet (configuration of the main network including the minimum number of validators) will have a minimum genesis time on August 4” said Mr. Ran while promising to give more details in the days to come. The developers still said that the testnet will have to work at least three months in order to be tested and to proceed to the next stage. Statements which suggest that this one phase 0 of Ethereum 2.0 – could be launched on November 04.

Previous Successful Testnets

A few months ago, the developer team launched the initial testnet Sapphire which was operated by Prysmatic Labs and for which 24,000 validations had been reached in just a few days. After this great success, it was the turn of the testnet Topaz to go live in May with the issuance of the staking rewards. This testnet, which was the first to present a configuration close to the main network, operated with 22,000 validators.

After Onyx in june, it is the first multi-client testnet that went live with the participation of Sigma Prime, Nimbus Prysmatic Labs, and PegaSys. With Altona, it was a question of appreciating the ability of participants to jointly exploit Beacon chain and of ensure stability before deploying a public testnet. Prysmatic Labs which has taken part in most of the previous testing recently reported in a blog post that its developers are about to take part in the upcoming multi-tenant testnet.

A network currently under pressure

This is the least we can say when we observe the latest developments on the network, in particular the development of stablecoins and the emergence of DeFi. The latter highlight the technical limits of the network while gas usage and transaction costs are at record highs. To this end, Vitalik Buterin Founder of Ethereum – had already expressed his fears for the security of the network which could be endangered because of the increase in transaction costs. All of which adds to the recurring criticism of network scalability and clearly delays the upgrade to Ethereum 2.0.

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The success of the next announced test is therefore crucial to dispel doubts about the effectiveness of the launch of Ethereum 2.0, which is already far behind. Either way, you still have some time to accumulate 32 ETH.

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